According to David Bailey, CEO of Bitcoin Holdings Company Nakamoto, the price of BTC is likely to rise to $150,000 only after two giant whales complete their sell-off.
“BTC is not at $150,000 right now just because of two whales,” Bailey stated in a post on the X platform on Tuesday.
According to data from CoinMarketCap, with BTC currently priced at $110,240, a rise to $150,000 would mean an increase of about 36%.
Bitcoin whales refer to individuals or organizations that hold large amounts of Bitcoin in their wallets and can influence market trends. Many investors closely monitor the activities of Bitcoin whales, as fears of their sell-offs can significantly impact overall market sentiment.
Recently, several large whale transactions have shaken the Bitcoin market.
On August 24, a Bitcoin whale sold 24,000 BTC, worth about $2.7 billion, causing a flash crash in the Bitcoin market. According to a report by QCP, this crash liquidated about $500 million in leveraged positions within just a few minutes.
A few days earlier, on August 21, a Bitcoin whale that had held its assets for over five years began transferring funds to Ethereum (ETH) through the decentralized exchange Hyperliquid, selling BTC worth $4 billion.
This volatile cryptocurrency market sentiment led the Crypto Fear and Greed Index to drop to the "Fear" range on Saturday, and the index subsequently fluctuated between "Fear" and "Neutral," ultimately showing a "Neutral" score of 49 on Tuesday.
Steven McClurg, CEO of Canary Capital, recently stated that the likelihood of BTC reaching the $140,000 to $150,000 range before entering a bear market next year is over 50%.
However, many analysts expect BTC to rise to levels higher than $150,000 before the end of the year.
In December last year, Alex Thorn, head of research at Galaxy Digital, predicted that BTC could reach between $150,000 and $180,000 by the end of 2025.
At the same time, BitMEX co-founder Arthur Hayes and Fundstrat co-founder Tom Lee both stated that BTC could reach $250,000 by the end of 2025.
Related: Analysts say the road to $1 million for Bitcoin (BTC) could be "very boring."
Original: “David Bailey: If these two whales are 'eliminated,' Bitcoin (BTC) will soar to $150,000”
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